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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (7789)	11/13/1997 1:20:00 PM
From: Cynic 2005	Read Replies (2) \| Respond to of 18056

Did futures saved the free-fall of DOW again?? (DOW recovered from -50 to -14 within 2 minutes) -Mohan GLOBEX PRICES AS OF 11/13/97 12:15 PM TRADE DATE: 11/13/97 CONTRACT LAST NET CHGE CONTRACT LAST NET CHGE EURO $ DEC97 94.145 -2 MEX TIIE DEC97 80.50P ---- MAR98 94.135 -.5 J-YEN DEC97 8019 +66 JUN98 94.085 -.5 B-POUND DEC97 1.6980 -52 SEP98 94.025A -.5 D-MARK DEC97 .5815 -13 DEC98 93.94 UNCH SWISS FR DEC97 .7164 -29 MAR99 93.93 UNCH CAND $ DEC97 .7114B -3 LIBOR DEC97 94.09A -1.5 AUST $ DEC97 .6959 +25 JAN98 94.265A -.5 F-FRANC DEC97 .17540P ---- S&P 500 DEC97 917.20 +890 M-PESO DEC97 .117500B +45 E-MINI DEC97 907.25A -100 REAL DEC97 .89150P ---- MAR98 914.25A -350 RAND FUT DEC97 .205200P ---- NSDQ100 DEC97 998.00A +1150 KIWI FUT DEC97 .6235P ---- GSCI DEC97 206.90P ---- BP/DM DEC97 2.8848P ---- MEX CETE DEC97 78.10P ---- DM/JY DEC97 72.625P ----

To: Tommaso who wrote (7789)	11/13/1997 4:35:00 PM
From: Bilow	Read Replies (2) \| Respond to of 18056

Greenspan link, (my favorite, with annotations): fame.org Got up early this morning and had to decide whether to hold em or fold em. Decided breadth was terrible, so I held. What happens tomorrow? -- Carl

To: Tommaso who wrote (7789)	11/14/1997 3:31:00 PM
From: Mike M2	Read Replies (1) \| Respond to of 18056

Tommaso, about the greenspan remarks on '29 . I would guess they can be found in Ayn Rand "Capitalism : The Unknown Ideal" my library has a pre 1966 copy so his remarks are not in there but it does have some AG quotes. Basicly AG says the Fed lowered rates in the US to help Britain stem the loss of its gold. "...The Fed succeeded:it stopped the gold loss ,but it nearly destroyed the economies of the world in the process. The excess credit which the Fed pumped into the economy spilled over into the stock market-triggering a fantastic speculative boom. Belatedly, Federal Reserve officials attempted to sop up the excess reserves and finally succeeded in breaking the boom.But it was too late: by 1929 the speculative imbalances had become so overwhelming that the attempt precipatated a sharp retrenching and a consequent demoralizing of business confidence. As a result,the American economy collapsed ...The world ecomies plunged into the Great Depression of the 1930's ." Alan Greenspan, The Objectivist,July 1966 Next time I am at Barnes & Noble I'll look I'd bet it is in the book I mentioned. Mike